Latin America and the Caribbean: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in Latin America and the Caribbean

The Latin American market for frozen crabs and crabs meat reduced to $X in 2023, dropping by X% against the previous year. Overall, consumption enjoyed significant growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Production of Frozen Crabs And Crabs Meat in Latin America and the Caribbean

In value terms, frozen crab and crab meat production declined to $X in 2023 estimated in export price. In general, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Exports of Frozen Crabs And Crabs Meat

Exports in Latin America and the Caribbean

Frozen crab and crab meat exports reduced to X tons in 2023, dropping by X% on the previous year. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, frozen crab and crab meat exports fell remarkably to $X in 2023. Total exports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

Chile represented the key exporting country with an export of about X tons, which recorded X% of total exports. Mexico (X tons) held the second position in the ranking, followed by Argentina (X tons) and Uruguay (X tons). All these countries together held approx. X% share of total exports.

Chile was also the fastest-growing in terms of the frozen crabs and crabs meat exports, with a CAGR of X% from 2012 to 2023. Uruguay experienced a relatively flat trend pattern. Mexico (X%) and Argentina (X%) illustrated a downward trend over the same period. Chile (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico and Argentina saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest frozen crab and crab meat supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports. It was followed by Mexico, with an X% share.

In Chile, frozen crab and crab meat exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Mexico (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, shrinking by X% against the previous year. Export price indicated prominent growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, frozen crab and crab meat export price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Crabs And Crabs Meat

Imports in Latin America and the Caribbean

In 2023, purchases abroad of frozen crabs and crabs meat increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen crab and crab meat imports skyrocketed to $X in 2023. Total imports indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

The Dominican Republic dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2023. The following importers - Jamaica (X tons), Aruba (X tons), Brazil (X tons), Peru (X tons), Ecuador (X tons), Costa Rica (X tons), Bahamas (X tons) and Antigua and Barbuda (X tons) - together made up X% of total imports.

The Dominican Republic was also the fastest-growing in terms of the frozen crabs and crabs meat imports, with a CAGR of X% from 2012 to 2023. At the same time, Ecuador (X%), Antigua and Barbuda (X%), Costa Rica (X%), Peru (X%), Jamaica (X%) and Brazil (X%) displayed positive paces of growth. Aruba experienced a relatively flat trend pattern. By contrast, Bahamas (X%) illustrated a downward trend over the same period. While the share of the Dominican Republic (X p.p.) and Ecuador (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Jamaica (X p.p.), Brazil (X p.p.), Aruba (X p.p.) and Bahamas (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported frozen crabs and crabs meat in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Jamaica, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the Dominican Republic amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Jamaica (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, declining by X% against the previous year. In general, the import price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Aruba (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform